8 Frugal Habits of World’s Richest People

There are wealthy people who lives a frugal life and with a hefty amount of money in their bank accounts.

It is a common misconception that rich people spends too much money just because they have a lot of it. Not all of them are like that; in fact some of them have frugal habits that made them to what they are right now. You can do those habits too, and maybe someday you will be one of them.

Here are 9 habits that the world’s richest people do.

Buy a modest home.

The chairman and CEO of Telmex, Carlos Slim Helu, lived in the same six bedroom house for 30 years.

Shop for sales.

Stay with the brands that you are already used to, but don’t hoard!

Spend wisely.

Plan and discipline yourself when it comes to spending. Buy only the things you need. You can reward or treat yourself, but do it occasionally.

Check your coffee budget.

Better if you have your own coffee maker and brew your coffee at home. You will save a lot than buying your cup of joe from Starbucks every morning.

Travel in economy

If you are a frequent traveller, try to avoid flying first class. If Ingvar Kamprad of IKEA can do it, then why not you?

Drive the same car for 10 years.

What do Jim C. Walton, Azim Premji, Steve Balmer, and Ingvar Kamprad all have in common? They all drive cars that cost them less than $20,000.

Driving on Highway ca. 1990s

Avoid debt.

It might be a hard one to follow, especially when you’re launching a new business — but when you’re further down the line, paying back loans and working down credit cards can pile on enough stress to keep you from focusing on what’s truly important.

Learn to be happy with less.

In America, we have a very materialist-driven society. By learning to value a “less is more” life style and not spend money every chance you get, you can wind up with more in your pocket — and in your business.